Medicare Insurance Solutions for Employers and Employees
When one of your employees turn 65, and they continue to work, what happens? Can they stay on your company insurance plan, or do they have to select Medicare? What are the pros and cons of that decision? If the employee doesn’t choose Medicare, what happens when they retire? Can an employer pay for Medicare?
To answer these questions and more, My Medicare Solution will work with you and your company to provide no-cost, no-obligation consultations for you and your employees to make sure you and they are making the right decisions about Medicare and health insurance.
Let’s answer some common questions from employers regarding Medicare insurance for employees:
When an employee turns 65, do they have to go to Medicare?
- The short answer is no, and the long answer is, it depends on the situation.
- The size of your company matters. If it is under 20 people, then yes, in order to avoid unexpected bills, penalties and loss of enrollment periods, your employees should transition to Medicare.
- The cost and benefits of your coverage matter. Because Medicare is largely paid by taxes, the cost and benefits may be stronger than the medical coverage provided by the employer.
- The type of plan matters. HSA plans, FSA plans, high-deductible plans may all pose complications for those eligible for Medicare.
- You don’t have to know all the rules, but know that there are a lot of rules in Medicare, we can help you make sure that all of them are followed.
What's better, employer coverage or Medicare?
The answer depends on your insurance. My Medicare Solution will look at how much the employer and employee pay for benefits, what the plan provides, whether the coverage is considered an appropriate alternative to Medicare, and help you make that decision.
Can you call my employees directly and work with them?
Can you present Medicare insurance options to groups of employees?
To make it even easier for you and your employees, My Medicare Solution offers a range of presentation options depending on your and their needs. Presentations can be scheduled at your location during lunch time, after hours, or even on weekends, either in person or over Zoom.
Group presentations help all employees. We find that even younger employees benefit from these presentations as they may have aging parents or grandparents that they are helping with Medicare.
Group presentations can be recorded. We understand that it may be challenging to get a large group of employees together for a presentation. Employers may record the presentation by request and put it on their internal informational pages for later use.
Can I keep paying for my employee’s health insurance when they go to Medicare?
Yes, but not directly. There are a lot of rules surrounding paying for an employee’s Medicare coverage. My Medicare Solution is here to help bring clarity to the situation and make sure that your good deed doesn’t come with consequences.
What happens if an employee on our company’s insurance retires after age 65?
In most cases, when an employee is ready to retire and transition to Medicare, there are additional requirements. Depending on the employee’s situation, the process of applying for Medicare can be different. The application process will also include additional forms that can only be provided by the employer or HR.
My Medicare Solution is here to help you and your employees make a smooth transition with no gaps in coverage, and to help your HR department fill out the forms correctly.
Finding health insurance and especially Medicare can be challenging
Medicare is complicated. There are reasons for the many alarming warnings from friends and strangers alike – if Medicare rules aren’t followed with specificity, an individual may accrue penalties that last for the rest of their lives, or they may lose the ability to get on Medicare immediately, or they may face unexpected bills.
Contact My Medicare Solution for a no-cost, no-obligation consultation to avoid all the pitfalls and make sure the Medicare process is smooth and hassle-free. Our long history of experience and dedication to excellent service will take the burden of Medicare questions off your shoulders and make the process easy for your employees.